Jim Cramer: Issues in the Ukraine are Controlling the Markets Now

TheStreet's Jim Cramer says that the Ukraine is in charge and when investors see weakness, it's off of news on Russia and the Ukraine.

TheStreet's Jim Cramer says Ukraine is in charge and when investors see weakness, it's off of news on Russia and Ukraine. Cramer says this is a period similar to the Persian Gulf War where we are went down and then rallied when there were talks of diplomatic solutions to this issue. Cramer does think there could be a diplomatic solution to the Ukraine issues if Germany's Merkel and Russia's Putin talk about having a demilitarized zone in a way that would allow Russia to save-face. Cramer still believes Putin wants to act rationally but Crimea was where his navy was headquartered and Putin feels that a lot of eastern Ukraine belongs to Russia. Cramer says that the market will continue going down when it looks like there is not a diplomatic solution and going up when the rumors say there will be one.